535 Island Rd
$2,600,000
South Oak Bay
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About this home
Welcome to 535 Island Road-one of the most private and revered garden estates in all of South Oak Bay. Lovingly owned and tended by the late Lord and Lady Chatfield, this 0.49 acre property personifies the true meaning of a legendary garden with historical significance. Sweeping lawns are embraced by a magnificent variety of mature trees and extraordinary gardens cultivated over generations of thought and care, positioned in a most private and sought after neighbourhood near to the ocean and the world famous Victoria Golf Course. Set amongst the gardens is an honest, handsome 1931 character residence that awaits thoughtful rejuvenation. The spectacular setting has quietly intrigued many and hosted a number of prominent gatherings over the years. Opportunities to extend the provenance of such a renowned estate are so few and far between as to only exist once in a lifetime. (id:65179)
Property details
From the listing's public record.
Lot size
21,156 square feet
Year built
1926
Taxes
$12,501/yr
Zoning
Residential
Appliances
Heating
Lot
Style
Price history
1 recordEvery recorded listing event for this property — sales, relists, expired or withdrawn listings.
Aug 26, 2026
Listed $2,600,000
Active4 days on marketMLS 1047061
How this listing compares
Based on 84 sales in South Oak BayMedian sold
$1,867,500
Avg days on market
44 days
Avg sale-to-list
97.9%
Avg $/sqft
$700
Price per square foot
Above area average
Current market in South Oak Bay
Active (same type)
30
Pending
15
All active listings
49
Months of supply
4.3
Balanced market — 4.3 months of supply at the current sales pace.
Assessment
From publicly available property records.
Assessed value
$2,282,000
Homes in Oak Bay sell at 161.4% of assessed value on average.
Based on 195 recent sales.
Local price trend
How South Oak Bay has moved over the last decade.
Local price index (normalized) · 117 months
Recent nearby sales
12 sales1217 Hewlett Pl
$2,600,000
4 bd · 5 ba · 3,052 sqft · $852/sqft · 22 days on market
Sold Aug 6, 2026 · 96.3% of list
1262 Roslyn Rd
$1,705,000
4 bd · 3 ba · 2,050 sqft · $832/sqft · 15 days on market
Sold Aug 4, 2026 · 95.3% of list
554 Beach Dr
$3,125,000
4 bd · 4 ba · 4,515 sqft · $692/sqft · 30 days on market
Sold Jul 31, 2026 · 94.8% of list
671 Linkleas Ave
$1,800,000
3 bd · 2 ba · 1,747 sqft · $1,030/sqft · 13 days on market
Sold Jul 29, 2026 · 102.9% of list
2175 Granite St
$2,750,000
3 bd · 4 ba · 2,577 sqft · $1,067/sqft · 57 days on market
Sold Jul 27, 2026 · 96.8% of list
905 Deal St
$2,150,000
5 bd · 3 ba · 3,639 sqft · $591/sqft · 74 days on market
Sold Jul 27, 2026 · 97.8% of list
449 Victoria Ave
$1,570,000
5 bd · 3 ba · 3,217 sqft · $488/sqft · 22 days on market
Sold Jul 16, 2026 · 95.2% of list
590 Island Rd
$2,850,000
4 bd · 4 ba · 3,585 sqft · $795/sqft · 5 days on market
Sold Jul 15, 2026 · 106.5% of list
990 Hampshire Rd
$1,145,000
4 bd · 2 ba · 2,266 sqft · $505/sqft · 15 days on market
Sold Jul 10, 2026 · 97.4% of list
945 Falkland Rd
$1,362,500
4 bd · 2 ba · 3,582 sqft · $380/sqft · 48 days on market
Sold Jul 10, 2026 · 97.7% of list
865 St. Patrick St
$1,502,000
4 bd · 3 ba · 2,951 sqft · $509/sqft · 9 days on market
Sold Jul 2, 2026 · 102% of list
575 St. Patrick St
$3,704,000
4 bd · 4 ba · 4,461 sqft · $830/sqft · 10 days on market
Sold Jun 30, 2026 · 93.8% of list
What would this home cost?
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Monthly mortgage
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Loan amount
$2,600,000 − $520,000
Down payment
20.0%
Property Transfer Tax
Legal / closing (est.)
Cash to close
$577,500
Down payment + PTT + GST + legal estimate.
Estimates only, based on current BC rates and thresholds. Not tax, legal, or financial advice. Property transfer tax exemptions have eligibility requirements — confirm with a lawyer or notary. GST rebates on new construction are not modelled here. Mortgage payment uses Canadian semi-annual compounding and excludes property tax, home insurance, and CMHC mortgage insurance.
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Interested in this home?
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Listed by Newport Realty Ltd.